The price of gold after a minor correction was able to overcome the resistance level at 1230 and reached the next target of 1244. After overcoming this mark, quotes can continue to grow with the objectives at 1252, 1265 and 1278. The fall of the price is limited by the level of support near 1210. Our medium-term outlook remains positive and we recommend holding long positions.
Nearest resistance levels: 1244, 1252, 1265, 1278, 1290
Nearest support levels: 1230, 1210, 1200, 1180, 1170, 1140, 1120, 1100
The price of Light sweet crude oil decreases inside the descending channel. The price has reached an important level of 45.00 and is likely to continue to decline to a level of 40.00. Growth is possible only within the correction and is limited by the upper boundary of the channel, in case of breaking through which the price may rise to 50.00. We recommend holding short positions and see no reason to change the current negative dynamics in the medium term.
Nearest resistance levels: 46.00, 47.50, 50.00, 52.00, 54.00, 58.50, 60.00
Nearest support levels: 45.00, 42.00, 40.00, 35.00